The average gas price hits a new record in just one week 

According to AAA’s gas price tracker, the average unleaded gas price in Massachusetts on Monday was $4.963 a gallon, up from $4.73 per gallon the previous week

The average price of gasoline in the United States has jumped 25 cents in only one week, causing customers and the Biden administration additional worries.

The new rise has been acknowledged by AAA as being in high demand. It stated that demand is surpassing supply globally and that recent “strong” travel over Memorial Day weekend boosted demand in the United States.

According to AAA, the Midwest has seen the most price hikes in the last week, with prices climbing 45 cents in Michigan, 41 cents in Illinois, and 41 cents in Indiana.

Meanwhile, prices in California were the highest, reaching $6.34 per gallon.

The invasion of Ukraine by Russia has driven up costs in general. Recently, the country’s limited refining capacity has come into prominence, as refiners, which convert crude oil into gasoline, shift their focus to more profitable fuels like diesel and jet fuel, both of which have seen price increases.

Even though presidential initiatives have little impact on gasoline prices because of the global nature of the oil market, the White House frequently faces political backlash.

President Biden has announced a series of initiatives aimed at lowering oil costs, including the release of millions of barrels from the strategic reserve.

Republicans have exploited the subject of gasoline prices as a significant line of attack against Democrats in the run-up to this year’s midterm elections.

In a phone interview with CNN, Mark Zandi, chief economist of Moody’s Analytics, said he is more optimistic about the US economy’s capacity to control inflation without precipitating a downturn. The only snag, according to Zandi, would be a further rise in oil prices.

 

18 Responses

  1. T
    his whole thing about gas prices is directly at the door of the Biden Administration. You don’t need to look any further than the first day of his administration.

  2. GAS WAS GOING UP BEFORE RUSSIAN INVADED UKRAIN. IT STARTED WHEN JOE TOOK OFFICE. WE HAVE MORE TO WORRY ABOUT JOE THAN PUTAN. AMERICAN STYLE COMMUNISN IS SHOWING THRU JOE

  3. I’m a 75 year old widow who still has to work full time to survive. After paying my bills buying food and gasoline, there’s nothing left. Not even enough to go out for a cup of coffee. I have never seen this country this bad in all my life. Anyone who voted for Biden needs to have their head examined. That man doesn’t know where he is most of the time. Donald Trump was the best president this country ever had. He got things done and knew how to negotiate with people. He wasn’t a smiling idiot like Biden. I sure hope I live long enough to see this country turn around. After Biden, Karmela should go and last but not least – Pelosi. Another idiot.

  4. Bull Sh.. it’s Biden’s fault all the way. Gas prices started up as soon as Biden stopped all drilling and building of the pipeline.

  5. Screw that SOB Biden he has caused all this by closing pipeline and all his other stupid moss. The rest of his cronies are no better. How do you get so asshole in on pack. That includes the Obamas, Pelosi. Shiffe, Schumer and all the Biden family the damn bunch of crooks.

  6. “President Biden has announced a series of initiatives aimed at lowering oil costs, including the release of millions of barrels from the strategic reserve.” REALLY? This would last less than a week. If Biden rally wanted to ease the pain on the American people, he would not have shut down the pipeline and caused (by executive order) many other hindrances to oil supply. The price of gas went up the day Biden was elected. He campaigned on gutting fossil fuels. Remember that creepy commercial where Biden whispered to that young teenage girl that he would stop the use of all fossil fuels? The democrats want this to be extremely painful on America to get their Green New Deal and force us into electric cars. Forget the fact that 90% of Americans can’t even afford an electric car nor that they have at most a range of a few hundred miles. I’m driving from Atlanta to Houston this weekend. That is 820 miles. Stopping for gas twice I can make in 11 hours. If I had to stop to charge up my car with the technology available today, it would take me hours to recharge and the trip would take me 2 days! Electric cars are not a bad idea but they are a long way from prime-time consumption. Let’s pump gas in the U.S. Put Americans to work and stop filling the bank accounts of countries that are hostile to us and could shut off the spigot if we looked at them wrong, like Russia is doing with natural gas to some European countries as a retaliation for arming Ukraine.

  7. It’s NOT the war in UKraine with Russia that has driven up the price! It IS the policies of this Brandon administration that shut down the pipelines, that closed the drilling companies, that refused to allow permits that had already been approved to be worked & shutting down refineries that produced gas and the other by-products such as plastics, the coating for movie theater popcorn bags and drinks, etc. The damage they are doing is astounding and the deaf ear they are listening with is unbelievable! Then to top off their bull headed ignorance they refuse to stop the illegal invasion that the Constitution requires them to stop in defense of the American borders!

  8. so what will the military do for fuel when he has depleted the reserves? in the event of an invasion?

  9. They can try to lie their way out of this crisis, but the bare truth is, we need Donald J. Trump back in the oval office.

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